SAN FRANCISCO, Oct. 16, 2019 /PRNewswire/ -- Constellation Network, Inc, a San Francisco based software, big data and "blockchain company" engages with Chainlink to become a node operator on the Chainlink network, to provide smart contracts with access to real-world streaming data from Constellation's enterprise clients, and to provide validation for streaming data
The Constellation Network provides a secure communications protocol and data infrastructure tools for enterprise clients such as the United States Air Force. Constellation's "Blockchain for Big Data" approach provides data infrastructure tools for developers to enable interoperability between legacy and cloud data systems. Chainlink is facilitating enterprise adoption of smart contracts by creating a customizable API middleware solution that makes off-chain data and external networks available to Ethereum and other smart contract platforms. By leveraging the benefits of both technologies, users can create reliable and secure end-to-end blockchain solutions.
The integration, explained in the recently released paper, "Oracalizing Big Data on Distributed Ledger Technology" outlines how Constellation will become an oracle node on the Chainlink Platform. This will ultimately create a full life-cycle solution that starts with securing data through quality processing techniques and ends in triggering backend business processes via connected smart contracts. Smart contracts, made popular through Ethereum, is one of the most common applications seen in the blockchain industry today. Constellation has built a micro-service or state channel enabled network to make it easy for engineers to integrate their technology across data pipelines.
"Poor quality data costs businesses nearly $700B a year or 30% of an average company's revenues. Groundbreaking technologies, like Constellation and Chainlink, are approaching the big data space with decentralized, secure, and novel solutions to big problems." Says Benjamin Jorgensen, CEO, and Co-Founder of Constellation Network. "The collaboration showcases two blockchain companies with the aim of setting new standards around data while driving real-world adoption of distributed ledger technology."
"Given the need for quality, well-processed data when creating highly reliable smart contract solutions, Chainlink is excited to integrate with Constellation Network in order to provide smart contract developers across different ecosystems secure access to their enterprise clients' data," states Daniel Kochis, Global Head of Business Development at Chainlink
The supporting research describes what a technical integration would look like across a given real-world use case. Furthermore, the detailed research report highlights a technical understanding of each platform as well as providing a long term vision of how to potentially evolve to more advanced integrations over time.
About Constellation Constellation providing infrastructure tools for an open decentralized data marketplace and an enterprise-grade software solution for data provenance and integrity. It's secure, cost-effective, scalable, and easy to integrate. Furthermore, Constellation provides data dependency graphs on a decentralized DAG (directed acyclic graph) network - an evolution of existing blockchain technologies. The solution not only secures data pipelines through encryption but creates an audit trail of data downstream to enable a live overview of the status of any data source. Learn more by visiting Constellation Network website, Twitter, or Telegram.
About Chainlink Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams. Learn more by visiting the Chainlink website, Twitter or Telegram. If you're a developer, visit the developer documentation or join the technical discussion on Discord.